JSW Energy Boosts Renewable Capacity with ₹12,468 Crore Deal

30 Dec 2024 , 11:23 PM

JSW Energy is running ahead of schedule in relation to its very ambitious goal of 10 gigawatts (GW) till June 2025 as confirmed by Joint MD and CEO, Sharad Mahendra. The entire energy portfolio is linked with PPAs involving utilities, state governments, and the CNI sectors.

A recently awarded 300 MW hybrid project will definitely get a PPA till June 2025 thereby further strengthening the portfolio. JSW Neo Energy, a wholly-owned subsidiary of JSW Energy, on December 27, 2024, reported its biggest acquisition in which it acquired O2 Power and its units for ₹12,468 crore.

The acquisition adds 4.7 GW of renewable energy capacity to JSW Energy, with 2.3 GW of operational capacity. The deal increases the locked-in capacity of the company to almost 25 GW, up by 23%.

The deal strengthens the position of JSW Energy in key resource-rich states and helps in implementing its growth strategy for renewable energy. JSW Energy is a major power generation, transmission, and trading player, operating as a constituent of the JSW Group.

The company’s market capitalisation is at ₹1,12,617.46 crore and the share price has seen a nearly 57% increase over the past year, an indication of solid investor confidence.